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- Publisher
- Springer Journals
- Copyright
- Copyright © 2016 by Palgrave Macmillan, a division of Macmillan Publishers Ltd
- Subject
- Business and Management; Business and Management, general
- ISSN
- 1476-6930
- eISSN
- 1477-657X
- DOI
- 10.1057/rpm.2015.51
- Publisher site
- See Article on Publisher Site
Abstract
Revenue management (RM) is adversely affected and its benefits sharply reduced when the system and processes are not adjusted to changing market conditions. A history-based model will take time to adjust – the months it may take to adjust will potentially cost an airline significantly in lost revenue opportunities. This article explores a data analytics-based approach to capture RM benefits in periods of changing market conditions and when the system has lost accuracy because of improper calibration. It describes a real case study with an analytical framework that provided the airline an ability to continue to capture RM benefits while it made its transition to a more comprehensive solution.
Journal
Journal of Revenue and Pricing Management – Springer Journals
Published: Jan 29, 2016